JPMorgan Chase has reached a $75 million settlement agreement in a lawsuit brought by the United States Virgin Islands alleging the financial institution enabled the late Jeffrey Epstein's crimes.

Along with the $75 million, JPMorgan Chase made "significant commitments" to mitigate human trafficking, according to a report.

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The case came about in December 2022 when the attorney general for the U.S. Virgin Islands filed suit against JPMorgan Chase in the Southern District of New York.

Plaintiffs alleged that the financial institution had benefited from both the crimes and sex trafficking operation conducted by Epstein, and it had not reported suspicious financial activity, the report noted.

JPMorgan Chase does not concede any liability in the settlement but does "deeply [regret] any association" with Epstein, the bank said in a Tuesday statement.

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As part of the $75 million settlement, $30 million will go toward supporting charitable organizations for human trafficking victims and survivors, and $25 million will enhance infrastructure and bolster law enforcement in the U.S. Virgin Islands.

Additionally, $20 million is reserved for legal fees